Auto supplier ABC Technologies Holdings Inc. is adding more expertise in both injection molding and tooling with its acquisition of Windsor Mold Group Technologies (WMGT) for $165 million.
WMGT, based in Windsor, Ontario, is a Tier 1 and Tier 2 supplier to the auto industry and a maker of complex tooling for injection molded exterior and interior parts, lighting molds and optic inserts, ABC officials said in a Dec. 22 news release. It saw US$270 million in sales for its fiscal year that ended April 30.
WMGT has operations in Windsor; Amherstburg, Ontario; Saline, Mich.; Bellevue, Ohio; Pulaski, Tenn.; Pharr, Texas; and Querétaro, Mexico. The acquisition is the third of 2022 for Toronto-based ABC Technologies and adds to its capabilities as a vertically integrated supplier.
"This acquisition strengthens ABC's exterior products offering, expands our injection molding technical expertise and brings additional value-added tooling in-house," President and CEO Terry Campbell said in a news release.
ABC already has injection molding — it is No. 17 in the most recent Plastics News ranking of North American injection molders with $500 million in sales — as well as blow molding (No. 15 in PN ranking with $370 million in sales); extrusion (No. 75 in pipe, profile and tubing in North America with $44 million in sales); and blow mold and aluminum tooling, landing at No. 76 in North America with $7 million in sales.
WMG has been owned by the Biere family. Its sale to ABC marks the "next phase of WMGT's journey," President and CEO David Mastronardi said in the release.
"I'm confident that the combination of our businesses — enabled by a continued focus on people, quality and customers — will catalyze meaningful growth and opportunities while establishing the combination as a supplier of choice," he said.
The acquisition is expected to close in early 2023.
Earlier in 2022, ABC purchased Mühlacker, Germany-based injection molder Karl Etzel GmbH for $95 million and dlhBowles Inc., a maker of camera and sensor cleaning systems for advanced driving, for $255 million.